Latest news with #KaanTerzioğlu
Gulf Business
7 days ago
- Business
- Gulf Business
Kaan Terzioğlu on how VEON is building digital ecosystems across frontier markets
Image courtesy: LinkedIn From its new headquarters in Dubai, Nasdaq-listed With operations across Pakistan, Bangladesh, Kazakhstan, Ukraine, and Uzbekistan — markets home to more than 500 million people — VEON is delivering services that go far beyond connectivity. Under CEO Kaan Terzioğlu's leadership, the company is targeting 50 per cent of its revenue to come from non-telecom digital services within the next three years, leveraging local talent, language-first AI, and inclusive platforms to drive impact. We spoke with Terzioğlu about VEON's digital strategy, its move to the UAE, and the vision behind creating 'digital nations'. You moved VEON's headquarters to Dubai last year. What was the rationale? The move was driven by Dubai's operational excellence, especially during the post-COVID recovery. Its global connectivity, safety, and pro-business environment made it the right fit. By December 2024, we had officially completed the relocation. Today, VEON is the largest Nasdaq-listed company headquartered in Dubai, and we've successfully recruited global talent attracted to the UAE's lifestyle and infrastructure. VEON operates in some of the world's most complex markets. How do you ensure business continuity and growth? We operate in frontier markets with significant potential: Pakistan, Bangladesh, Kazakhstan, Ukraine, and Uzbekistan. These regions are underserved in areas like financial inclusion, education, and healthcare. Our strategy is to deliver relevant, localised digital services. We maintain a unified strategic vision but empower local execution — each operating company has its own board and independent directors to ensure governance and responsiveness. Give us more details about VEON's financial and entertainment services, especially in markets like Pakistan, and how these contribute to financial inclusion and community progress? In our operating countries, more than one in three people has never had a bank relationship, over 60 per cent don't have a credit card, and over 70 per cent haven't had a line of credit. This creates a huge opportunity for financial inclusion. In Pakistan, our JazzCash digital wallet handles over 10 per cent of the country's GDP transactions, reaching over 20 million people monthly from a customer base of 50 million. We issue 141,000 loans daily. These are small loans, like $30 for a taxi driver to fix a tire or a housewife to buy flour to sell cookies. These enable communities to progress and be financially included. We will deploy financial services in all our countries, with success in Pakistan and Kazakhstan. We have 160 million telecom customers, 40 million monthly financial services customers, and an additional 40 million consuming entertainment services. Tamasha is Pakistan's number one OTT platform with 22 million monthly users, and we have similar platforms like Toffee in Bangladesh and Kino in Uzbekistan. Our philosophy is simple: our countries are data-producing, and it's vital to process this data locally to create digital services, jobs, and taxes. We must stop selling raw data and instead provide relevant digital services: financial services, entertainment, education, and healthcare. Can you elaborate on your transformation into a digital ecosystem operator? In Pakistan, through our subsidiary Jazz, we operate JazzCash, the country's leading mobile wallet with nearly 20 million active users and over 171,000 merchant partners. It processes micro loans daily. We also offer Tamasha, Pakistan's leading OTT streaming platform with over 22 million monthly active users, and Garaj, our enterprise cloud and cybersecurity platform. In Bangladesh, our brand Banglalink has launched Toffee, an ad-supported OTT platform with millions of users. In Uzbekistan, Beeline Uzbekistan runs the Kino streaming service, while Beeline Kazakhstan offers Beeline TV and educational tools built with our in-house tech company CasCod e . VEON is also active in digital healthcare. Tell us more about that. In Ukraine, our operating company Kyivstar runs the Helsi platform, which reaches around 28 million users. It offers telemedicine, diagnostics, and medicine delivery. Especially during wartime, it has been critical in maintaining access to healthcare. We see platforms like Helsi as essential in redefining what a telecom company can be, delivering real-world impact beyond data and voice. How do digital services reflect on your revenue mix? Digital services account for around 15 per cent of our revenue today and are growing by about 1 per cent per quarter. Our goal is to reach 50 per cent digital revenue within the next three years. We've built three technology development companies — CasCode in Kazakhstan, plus teams in Uzbekistan and Ukraine, which allow us to create apps and platforms in-house and at scale. What's your approach to AI and local-language innovation? Global AI platforms often overlook languages like Kazakh, Uzbek, or Bangla. That's where we step in. In Kazakhstan, CasCode developed a Kazakh-language large language model ( We're pushing for digital sovereignty — tools built by locals, for locals. Are you eyeing expansion into new markets? Yes, in two ways. First, we want to serve our diaspora. Millions of Pakistanis and Bangladeshis live in the GCC, the UK, and beyond — these are future users of our digital finance or healthcare services. Second, we see potential in markets like Iraq and Syria, where we would consider expansion when regulatory clarity and stability improve. What are the leadership values that drive VEON and your personal philosophy? Everything we do is rooted in purpose and clarity. Purpose means using our platform to improve lives, be it enabling a small loan, delivering a medical consultation, or helping students learn. Clarity means being decisive, especially in complex environments. Combined, these principles ensure our teams stay focused and ethical while delivering at scale.
Yahoo
23-05-2025
- Business
- Yahoo
Tashkent hosts GSMA M360 as Eurasia's digital economy grows
The summit highlights the growing role of digital technologies in the region's economic development and coincides with the release of the GSMA's latest Mobile Economy Eurasia report. The report projects that mobile technologies will contribute €238 billion to Eurasia's economy by 2030, equivalent to 8.3% of the region's GDP. This forecast is driven by the growth of smartphone usage, expanded internet access, and the accelerating rollout of 5G networks. The choice of Tashkent as host city reflects Uzbekistan's rising profile as a regional digital leader. Since launching wide-ranging reforms in 2017, the country has opened up its economy, encouraged foreign investment, and promoted innovation in the tech sector. Today, Uzbekistan is home to more than 9,700 ICT companies and 200,000 tech professionals, with services exported to 90 countries and a total turnover of €4.1 billion. 'Uzbekistan has undergone one of the most successful transformations in the world,' Kaan Terzioğlu, CEO of VEON, said. 'With a population of 40 million and over one million babies born every year, the country is demographically strong and full of potential.' Vivek Badrinath, Director General of GSMA, stressed the broader economic impact of mobile sector growth. 'A $1 increase in the mobile economy generates $6 in GDP. When governments create investment-friendly environments and key sectors like banking or transport integrate mobile tech, the benefits are shared by all,' he said. A key highlight of the summit is the unveiling of the Kazakh Large Language Model, developed through a partnership between Kazakh researchers, QazCode, the Barcelona Supercomputing Center, and the GSMA Foundry. The AI model supports Kazakh, Turkish, English, and Russian, addressing a crucial gap in local language technologies. Meanwhile, Uzbekistan continues to encourage innovation through initiatives like the Presidential $1 million tech award, aimed at supporting start-ups and digital entrepreneurship. Sherzod Shermatov, Minister of Digital Technologies, pointed to recent app launches that integrate IT, tourism, and business services - generating over 2,000 international user interactions in just one week. Neighbouring Kazakhstan is also advancing its digital infrastructure. Zhaslan Madiyev, Minister of Digital Development, Innovations, and Aerospace Industry, emphasised the country's commitment to AI and digital infrastructure saying, 'We are building our AI ecosystem with initiatives such as the creation of a national AI Center. This center will support research, education, and startups, playing a crucial role in nurturing the entire ecosystem.' Despite advances some challenges remain. According to the GSMA, around 80 million people in Eurasia remain offline, despite having mobile network coverage. Addressing this "usage gap" will be key to ensuring inclusive digital growth across the region. GSMA initiatives such as its collaboration with IBM — offering members access to the platform — and joint efforts with the European Space Agency on Non-Terrestrial Networks, aim to enhance connectivity and bridge the digital divide. As Tashkent takes the spotlight during M360 Eurasia, Uzbekistan positions itself as a key player in shaping the region's digital future — one increasingly defined by innovation, inclusion, and international cooperation. Sign in to access your portfolio
Euronews
23-05-2025
- Business
- Euronews
Tashkent hosts GSMA M360 as Eurasia's digital economy grows
The summit highlights the growing role of digital technologies in the region's economic development and coincides with the release of the GSMA's latest Mobile Economy Eurasia report. The report projects that mobile technologies will contribute €238 billion to Eurasia's economy by 2030, equivalent to 8.3% of the region's GDP. This forecast is driven by the growth of smartphone usage, expanded internet access, and the accelerating rollout of 5G networks. The choice of Tashkent as host city reflects Uzbekistan's rising profile as a regional digital leader. Since launching wide-ranging reforms in 2017, the country has opened up its economy, encouraged foreign investment, and promoted innovation in the tech sector. Today, Uzbekistan is home to more than 9,700 ICT companies and 200,000 tech professionals, with services exported to 90 countries and a total turnover of €4.1 billion. 'Uzbekistan has undergone one of the most successful transformations in the world,' Kaan Terzioğlu, CEO of VEON, said. 'With a population of 40 million and over one million babies born every year, the country is demographically strong and full of potential.' Vivek Badrinath, Director General of GSMA, stressed the broader economic impact of mobile sector growth. 'A $1 increase in the mobile economy generates $6 in GDP. When governments create investment-friendly environments and key sectors like banking or transport integrate mobile tech, the benefits are shared by all,' he said. A key highlight of the summit is the unveiling of the Kazakh Large Language Model, developed through a partnership between Kazakh researchers, QazCode, the Barcelona Supercomputing Center, and the GSMA Foundry. The AI model supports Kazakh, Turkish, English, and Russian, addressing a crucial gap in local language technologies. Meanwhile, Uzbekistan continues to encourage innovation through initiatives like the Presidential $1 million tech award, aimed at supporting start-ups and digital entrepreneurship. Sherzod Shermatov, Minister of Digital Technologies, pointed to recent app launches that integrate IT, tourism, and business services - generating over 2,000 international user interactions in just one week. Neighbouring Kazakhstan is also advancing its digital infrastructure. Zhaslan Madiyev, Minister of Digital Development, Innovations, and Aerospace Industry, emphasised the country's commitment to AI and digital infrastructure saying, 'We are building our AI ecosystem with initiatives such as the creation of a national AI Center. This center will support research, education, and startups, playing a crucial role in nurturing the entire ecosystem.' Despite advances some challenges remain. According to the GSMA, around 80 million people in Eurasia remain offline, despite having mobile network coverage. Addressing this "usage gap" will be key to ensuring inclusive digital growth across the region. GSMA initiatives such as its collaboration with IBM — offering members access to the platform — and joint efforts with the European Space Agency on Non-Terrestrial Networks, aim to enhance connectivity and bridge the digital divide. As Tashkent takes the spotlight during M360 Eurasia, Uzbekistan positions itself as a key player in shaping the region's digital future — one increasingly defined by innovation, inclusion, and international cooperation. 'Investment, not tariffs,' Ishiba told reporters after the talks. He said Japan's position to keep pushing Washington to drop all recent tariff measures is unchanged and that he stands by plans to push for Japanese investment to create more jobs in the US in exchange. The two leaders held talks just after Economic Revitalisation Minister Ryosei Akazawa, Japan's chief tariff negotiator, headed to Washington for a third round of talks with his US counterparts. In the earlier rounds of talks, the US had not agreed to the Japanese requests. Ishiba said he reminded Trump that Japan's position was for the US administration to scrap all recent tariffs on imports from Japan, to which the US president made no specific response. 'I expressed my expectations for productive discussion to be held, and we agreed,' Ishiba told reporters. The US is charging a 25% tariff on imports of autos, a mainstay of Japan's trade with the US and a key driver of growth for the economy. Trump has relaxed some of those tariffs but has kept in place higher tariffs on steel and aluminum. Friday's talks were requested by Trump and the two leaders discussed about 45 minutes on range of topics that also included security cooperation between the two allies and the US president's recent visit to the Middle East, Ishiba said. He said the two leaders also agreed to hold talks when they both attend the Group of Seven summit in Canada next month.
Yahoo
12-05-2025
- Business
- Yahoo
Frontier Tech: Fireside with VEON Group CEO, Kaan Terzioğlu
hosted a fireside chat with VEON Ltd. (Nasdaq: VEON) to discuss the company's services to 122 million total monthly active users across its digital services portfolio in countries like Ukraine, Pakistan, Kazakhstan, VEON's business combination with Cohen Circle Acquisition Corp. (Nasdaq: CCIR), and more. The event featured VEON Group Chief Executive Officer Kaan Terzioğlu, moderated by IPO Edge Editor-at-Large and Editor-in-Chief in a video session lasting approximately 30 minutes. Watch REPLAY: or watch the replay video below: This embedded content is not available in your region. Mr. Terzioğlu discussed: Services provided and operations around the world in countries like Ukraine, Pakistan, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan VEON as a Nasdaq-listed company focused on bringing connectivity, digital services and augmented intelligence to underserved markets with significant growth potential The company's recent financial performance and growth strategy overview VEON's business combination with Cohen Circle Acquisition Corp. I, which will result in Kyivstar becoming a publicly traded company on Nasdaq About Kaan Terzioğlu Mr. Kaan Terzioğlu has been serving VEON Group as the Group Chief Executive Officer since June 2021. As the Group CEO, Terzioglu leads the executive teams of the Company's digital operators providing connectivity and digital solutions, empowering their customers with digital finance, education, entertainment and health services, among others, and supporting the economic growth of the Company's operating markets. Prior to being appointed as the Group CEO, Mr. Terzioglu served the Company as Group Co-CEO from March 2020 to June 2021, Group Co-COO from November 2019 to March 2020 and a Board director from July 2019 to October 2019. Kaan Terzioglu is currently a Board Member of the GSMA and of the GSMA Foundation. Prior to joining the Company, Mr. Terzioglu held regional and global leadership roles in management consulting, technology and telecoms with Arthur Andersen, CISCO and Turkcell in Belgium, United States and Turkey. In 2019, Mr. Terzioglu received GSMA's 'Outstanding Contribution to the Industry' award for his leadership in creating a digital transformation model for the telecoms industry and for his contributions to socially responsible business in telecommunications industry. Mr. Terzioglu holds a Bachelor's Degree in Business Administration from Bogazici University and is also a Certified Public Accountant (Istanbul Chamber of Certified Independent Public Accountants). Mr. Terzioğlu's business profile: About VEON VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. As of the end of 2024, VEON served 122 million total monthly active users across its digital services is headquartered in Dubai and is the largest Nasdaq listed company in the country. For more information visit: Contact: Editor@ Twitter: @IPOEdge Instagram: @IPOEdge Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
